Core Insights - Analog Devices (NASDAQ: ADI) is positioned for significant growth in 2026, with expectations to reach new all-time highs throughout the year [2] - The company reported better-than-expected fiscal Q4 and year-end results for 2025, indicating a supercycle in industrial semiconductors is gaining momentum [2][5] Financial Performance - Analog Devices reported Q4 revenue of $3.08 billion, reflecting a 26.2% year-over-year increase, with notable growth in all end markets [4] - The growth was particularly strong in the Industrial sector, which saw a 34% increase, and Communications, which experienced a 37% gain; Automotive grew by 19%, while Consumer Markets had a 7% increase [4] Capital Returns and Outlook - The company maintains a reliable dividend with a yield of just over 1.6%, growing at a 10% compound annual growth rate, and a payout ratio of about 50% of current-year earnings [3][4] - Share repurchases are also contributing positively, reducing the share count by approximately 1% in Q4, with expectations for continued buybacks in the coming years [4] Operational Efficiency - The company achieved significant leverage gains from improved revenue, resulting in a 190 basis point increase in adjusted gross margin and a 240 basis point increase in operating margin [6]